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Hardware giant Dell has reported record revenues of $15.2bn (£8.7bn) in its fourth quarter results, driven by growing sales of enterprise products.

The results mark a turnaround for Dell after a poorer than expected third quarter performance. The fourth quarter figures show a 13% year-on-year increase in revenues and a 65% rise in profits to $1bn. Revenue for the full financial year was $56bn, up 14% on the previous year, with profits up 24%.

Revenues have been boosted by a worldwide 21% increase in sales of enterprise storage and server products, services, software and peripherals, with revenue from storage sales increasing 41% year on year.

The figures also show strong performance outside the US, where there has been a 21% growth in business over the past year.

Dell chief executive Kevin Rollins said: “We drove a better balance across all price points of our products and greater operational efficiencies this quarter, and performed at the high level of execution we expect for ourselves.”

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